MACD金叉信号形成，这些股涨势不错！ （来源：吴说） 吴说获悉，Grayscale Sui Staking ETF（代码：GSUI）将于明日在 NYSE Arca 上市交易。GSUI 提供对 Sui 网络原生代币 SUI 的投资机会，包括其潜在的质押奖励。GSUI 是一种交易所交易产品，未根据经 修订的 1940 年《投资公司法》（简称 "40 法案"）注册，因此不受 40 法案注册的 ETF 和共同基金所享 有的相同监管和保护。 ...

Core Viewpoint - The article emphasizes the optimistic outlook for the A-share market in 2025, highlighting the importance of high-quality development in public funds and the role of technology innovation as a key driver for capital market improvement [1][4]. Group 1: Market Performance and Trends - In 2024, the A-share market demonstrated resilience with a deep V-shaped recovery, marked by significant fluctuations due to external factors, but stabilized by long-term capital inflows and timely monetary policy adjustments [1]. - The Shanghai Composite Index historically surpassed the 4000-point mark, supported by a strong spring market in January 2025, leading to continuous new highs and a sustained market profitability effect [1]. - The market is expected to enter a consolidation phase after consecutive increases, but the long-term upward trend remains intact, with potential for new highs post-Spring Festival [4]. Group 2: Policy and Regulatory Developments - The China Securities Regulatory Commission (CSRC) initiated a series of reforms aimed at promoting high-quality development in public funds, including the release of action plans and guidelines to enhance investment clarity and reduce costs [2]. - These reforms are designed to stabilize investment styles and improve the overall investor experience, thereby increasing the long-term sense of gain and satisfaction for investors [2]. Group 3: Strategic Focus Areas for Fund Management - The company aims to enhance its capabilities in supporting national strategies, particularly in fostering high-level technological self-reliance and innovation, by developing relevant equity products [2]. - There is a focus on identifying alpha opportunities in a market characterized by rapid rotation and complex driving factors, necessitating deeper investment research and a disciplined approach to capturing excess returns [3]. - The implementation of dual-track reforms for performance benchmarks and fee structures is expected to improve product transparency and investor engagement, while diversified asset allocation strategies will help mitigate risks and enhance stability [3].

Group 1: Market Overview - The A-share market has shown a steady upward trend since the beginning of 2026, with over 90% of actively managed equity funds achieving positive returns [2][9] - As of February 13, 2026, 4,283 out of 4,706 active equity funds reported positive growth since the start of the year, with 103 funds achieving over 20% growth [2][9] - The macroeconomic environment is expected to support the market, with a stable growth rate anticipated for the year, aiding in corporate profit recovery [3][10] Group 2: Policy and Economic Support - The domestic economic growth rate is projected to remain stable in 2026, with policies focusing on supporting demand and reducing financing barriers for private enterprises [3][10] - The government aims to promote the development of emerging industries while facilitating the digital transformation of traditional sectors [3][10] - Expectations for policy support are likely to increase post-holiday, which may enhance market liquidity and risk appetite [3][10] Group 3: Investment Opportunities - The humanoid robot sector is gaining significant attention, with several companies preparing for IPOs, indicating a maturation of the industry [5][12] - The humanoid robot market is projected to see substantial growth, with an estimated 2 million units expected in workplaces by 2035 [5][12] - Other sectors such as semiconductors, artificial intelligence, and global expansion are also attracting investment interest, with a focus on innovation and market integration [6][13][15] Group 4: Sector-Specific Insights - The humanoid robot industry has seen large-scale orders primarily from government and service sectors, with a notable decrease in core component prices [5][12] - The semiconductor industry is entering a phase of innovation, with significant investments expected to yield results in key processes and materials [7][13] - The "outbound" capability of companies is becoming a critical source of alpha, as firms successfully expand into global markets despite domestic challenges [14][15]

Group 1: Core Insights - The Taiwan Fund has shown strong performance, benefiting from its high dividend policy and market recognition of structural opportunities in Taiwanese stocks [1] - In 2025, the overall fund inflow for Taiwanese ETFs was significant, with the Yuanta Taiwan 50 ETF (0050) achieving a net inflow of NT$335.9 billion, surpassing NT$1.13 trillion in total size, making it the first Taiwanese ETF to exceed NT$1 trillion [1] - High dividend ETFs like Yuanta High Dividend (0056) and Qunyi Taiwan Selected High Yield also recorded inflows in the billion NT dollar range, reflecting market demand for stable cash returns [1] Group 2: Industry Policy and Environment - The Taiwanese stock market occupies a key position in the AI industry chain, benefiting from the global AI capital expenditure cycle [1] - The Norwegian Sovereign Wealth Fund (NBIM) significantly adjusted its holdings in Taiwanese stocks in the second half of 2025, focusing on increasing positions in high-precision manufacturing sectors such as semiconductor testing and low-orbit satellite components [1] - The Taiwan Fund, as a one-stop investment tool for Taiwanese stocks, indirectly benefits from these structural opportunities, with its portfolio including core AI hardware companies like TSMC, enhancing its sustainable dividend capacity [1] Group 3: Fund Movement - At the beginning of 2026, public funds implemented high dividend payouts, with Huatai-PB CSI 300 ETF achieving a single dividend total of NT$11 billion, setting a record for domestic ETFs [2] - This trend is driven by improved liquidity and policy support, as fund managers optimize investor returns through dividends [2] - The Taiwan Fund's dividend policy aligns with the overall market trend of increased payouts, enhancing short-term market attention [2]

龙舞山河壮，马驰春色新！我是安联基金郑宇尘，值此上证指数站上4000点迎来开门红之际，我谨代表安联基金，向各位投资者致以最诚挚的祝福！愿大 家在新的一年里龙马精神、万事顺遂，在资本市场的沃土上收获满满。 2022年1月加入安联投资，参与公募牌照申请筹备工作，曾任安联基金管理有限公司副总经理兼首席投资官。 2008年10月至2022年1月，担任汇丰晋信基金管理公司基金经理、投资咨询总监、固定收益部及保险机构资产管理部总监、投资总监等多个高级职位。此 前，郑宇尘先生就职于中德安联人寿保险有限公司，历任组合经理、投资部总监等职。 资本市场方面，两个重要的变化正在悄然展开，一个是，资本市场取代了房地产成为居民财富保值增值的重要领域。另一个是，资本市场的发展，需要服 务实体经济，服务国家战略，但反过来，也可以反映和分享实体经济发展的成果。这两个变化，使得资本市场的发展成为国家的战略目标之一，会推动资 本市场进入比较好的良性发展阶段，资本市场的底层资产的质量也在改善。我们也已经看到，通过注册制改革持续深化，上市公司质量稳步提升，外资准 入不断扩大，市场韧性与活力将进一步增强，与此同时，以保险资金、养老金为代表的"长钱"加 ...

曾经是全球最大的美债买家——中国，近期不断减持美债！最高峰的时候我国拥有1.3万亿美债，而如 今却已经跌穿了7000亿！相反地，在不断减持美债的同时，央行已经连续第15个月增持黄金！曾经的美 债为什么不香了？中国这波操作的背后究竟有着什么样的战略目的？ 想要读懂中国的这盘大棋，我们先来看看美国和美债的困境。 目前而言，美国最大的困境就是它的债务，美国联邦政府债务超过38万亿美元。要知道，全球政府的债 务大概在100-110万亿美元之间，而美国一家就占了至少35%。如果按照美国3.4亿人口计算的话，人均 负债高达11万美元！如果这你还不能直观感受的话，那我给你举个例子。根据官方的预测数据，美国联 邦政府2026财年的收入约5.58万亿美元，而净利息却要支出1.2万亿美元左右。这就相当于，一个月入两 万的家庭，每个月的净利息就要支出四千多元。 美国的财政正在被利息"绑架"！而美国的财政支出又很刚性，根本没有"节约的空间"。它的支出里面， 除了利息以外，福利占了大头，比如医保、社保等。而这些福利的支出，如果被砍掉则会导致大规模的 罢工和游行。 出来混迟早要还的。过去美国长期靠高额财政赤字过日子，把美元储备货币的"便 ...

新元肇启，万象更新。在这辞旧迎新的美好时刻，我谨代表财通基金，向长期信任我们的投资者、携手同行的合作伙伴，致以最诚挚的新春问候和最深切 的感谢！ 回望2025，我们共同经历不平凡。站在"十四五"规划收官与"十五五"规划谋篇的历史衔接点上，宏观经济在内外变局交织中展现强大韧性，中国金融市场 则立足高质量发展，以政策协同为笔、以改革创新为墨，核心领域亮点频现：从年内上证指数创下近十年新高，到新"国九条"实施周年；从"金融强国"首 次写入五年规划，到货币政策"灵活高效"精准发力；从金融"五篇大文章"系统推进，到行业并购重组浪潮重塑格局……每一个关键节点，都深刻塑造着市 场的今天与未来。 与时偕行，我们更加坚定变革的决心。面对外部环境的复杂演变与公募行业的内生变革，我们毅然将2025年定义为财通基金的"变革重塑年"，围绕着"以 客户为中心"这一核心命题，系统性梳理了前中后台所有业务流程，将客户需求嵌入产品设计、投资决策、客户服务、风险管理、品牌建设等全生命周期 各个环节，并设立五大重点工程，从战略规划、组织机构、业务体系、客户运营、制度机制等方面协同发力、固本强基。 躬身笃行，以实干实绩兑现客户信赖。我们深知，公募行 ...

在投研能力建设方面，联博基金依托集团超过半世纪的全球投资经验，深刻理解中国市场的独特性，持续完善投研体系。我们通过将全球先进的量化模型 与本土化研究相结合，不仅致力于为投资者提供更具前瞻性的策略，更注重将跨越周期的投资智慧与中国市场实际相贯通，以此帮助投资者聚焦长期价 值、抵御短期波动，在复杂市场中保持理性与定力。 瑞雪迎春辞旧岁，骏马奔腾贺新年。值此2026年农历马年新春佳节即将到来之际，我谨代表联博基金管理有限公司，向支持我们的广大投资者及合作伙 伴，致以诚挚的新年祝福！祝愿大家在新的一年里，投资顺遂，阖家幸福！ 2025年是中国资本市场不平凡的一年。"十四五"规划圆满收官，中国经济展现出强大韧性，资本市场也在深化改革中，全面迈入高质量发展新阶段。资本 市场坚持稳中求进，呈现出"提质增效、信心回暖"的积极态势：A股总市值历史性突破100万亿元，实现了规模与质量的双重跃升。与此同时，资本市 场"1+N"政策体系持续落地见效，多层次资本市场体系渐趋完善，为科技创新、产业升级提供了有力支撑。 对联博基金而言，2025年更是深耕本土、持续布局的关键一年。作为联博在中国市场的重要战略支点，我们始终秉持"全球视野、本 ...

Core Viewpoint - The public fund industry is poised for high-quality development, emphasizing the integration of financial services with national strategies and the needs of investors, while leveraging technological advancements to enhance investment capabilities [1][2][4]. Group 1: Industry Overview - The public fund industry has deeply integrated into the national development framework, focusing on optimizing resource allocation and supporting the transformation of the real economy [1][2]. - The industry has seen significant growth, with the pension fund management scale approaching one trillion, reflecting a commitment to long-term value creation and support for residents' financial well-being [3]. Group 2: Strategic Initiatives - The company is enhancing its investment and research system by focusing on key sectors such as technology, semiconductors, and innovative enterprises, aiming to create a diversified product matrix centered around new quality productivity [2][5]. - The introduction of innovative financial products, including the first domestic science and technology index ETFs and REITs, demonstrates the company's commitment to empowering the technology and digital economy sectors [2][4]. Group 3: Global Expansion - The company is actively expanding its cross-border business, focusing on global asset allocation and enhancing its capabilities in international markets, particularly through the launch of multiple Hong Kong Stock Connect products [4][5]. - The emphasis on high-level financial openness positions the company as a key player in connecting domestic and international markets, facilitating investment opportunities for global investors [4]. Group 4: Future Outlook - The company aims to strengthen its service capabilities in response to national strategic needs, focusing on identifying transformative technological breakthroughs and enhancing its competitive edge in capital markets [5]. - The commitment to improving wealth management services and optimizing product offerings reflects the company's dedication to meeting the evolving needs of investors and ensuring sustainable growth [5].

Core Viewpoint - The news highlights the significant achievements of Guoshou Anbao Fund in 2025, emphasizing its commitment to high-quality development and strategic positioning as it enters the "14th Five-Year Plan" period [1][3]. Group 1: Performance and Achievements - As of December 31, 2025, Guoshou Anbao Fund's investment scale in the real economy reached 247.9 billion yuan, with a customer base of 79.79 million, reflecting a growth of 20.58% from the beginning of the year [1]. - The fund generated a profit of 7.9 billion yuan in 2025, distributing dividends 40 times totaling 3.9 billion yuan [1]. - Guoshou Anbao Fund ranked 6th in both equity and fixed income asset excess return rates over ten years among all fund management companies, showcasing its unique position in achieving top-tier performance in both asset classes [2]. Group 2: Strategic Focus for the Future - The company aims to maintain a steady approach while enhancing its core capabilities, focusing on serving the real economy and aligning with national strategic goals [4][5]. - Emphasis will be placed on risk management, with plans to upgrade the comprehensive risk management system and utilize technology to improve risk control efficiency [5]. - The company is committed to leveraging digital transformation to enhance service quality and operational efficiency, ensuring a better experience for investors [5]. Group 3: Recognition and Ratings - Eight actively managed equity funds received five-star ratings from Guotai Junan Securities, indicating the company's strong performance across various investment strategies [3][7]. - The fixed income funds have consistently ranked in the top 10% of the industry over the last three years, further solidifying the company's reputation in the market [6].